This week, ICANN will go forward with its plan to accept applications for management of new registry domains, though it is still receiving objections from corporations worried about skyrocketing financial costs stemming from the additions and loss of control over brands. ICANN has also received a letter from the Commerce Department's National Telecommunications and Information Administration administrator, outlining continuing concerns within the department over "unintended and unforeseen consequences," according to Reuters.
ICANN's position is that the $185,000 fee for applying for a new top-level domain, and its plan to "go slow" will alleviate problems.
The Wall Street Journal takes a rosy view of the changes, with quick profiles of several investors who hope to cash in by nabbing a .shop or .eco domain, for example. Their financial resources will have to be substantial to succeed. The application to ICANN for the domains is several hundred pages, reports WSJ, and multiple qualified applications for the same domain could result in an auction and sky-high fees.